AtkinsRéalis Completes $2.6 Billion Sale of 407 ETR Stake and Repays $400 Million Debt
AtkinsRéalis Group Inc. (TSX: ATRL), a global leader in engineering and nuclear services, has finalized the sale of its remaining 6.76% stake in 407 International Inc. (“Highway 407 ETR”). The transactions were completed with subsidiaries of Canada Pension Plan Investment Board (CPP Investments) and Ferrovial SE under the terms previously disclosed on March 13, 2025.
In addition to closing the transactions under the Share Purchase Agreement, all steps under a related Put and Call Agreement with Ferrovial have now been initiated. Both agreements incorporated mechanisms for deferred consideration and a call option, which were triggered early in the 18-month post-closing window. Based on these terms, the total gross proceeds from the full divestiture of AtkinsRéalis’ stake are expected to be approximately $2.6 billion.
Some proceeds were received at closing, while the remaining funds are expected to be paid within the next three business days. With this transaction now closed, AtkinsRéalis has fully exited its ownership in Highway 407 ETR.
The company also announced that it has repaid the full $400 million principal of a limited recourse loan from a Caisse de dépôt et placement du Québec subsidiary, effectively terminating that loan agreement.
Net proceeds from the sale will be used according to AtkinsRéalis’ capital allocation strategy, outlined during its 2024 Investor Day. Priorities include debt reduction, funding growth through targeted small and mid-sized acquisitions, and returning capital to shareholders—initiatives aimed at enhancing long-term shareholder value.
RBC Capital Markets served as financial advisor, and Norton Rose Fulbright acted as legal counsel for AtkinsRéalis.
About AtkinsRéalis
Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world’s infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital.
